This is the market report for single family homes sold in the Briarcliff Manor school district for the first quarter of 2011. All information is sourced fom the Empire Access Multiple Listing Service. 

In the first quarter of 2011, there were 14 closings with a median sale price of $617,500. 

In the first quarter of 2010, there were 9 closings with a median sale price of $625,000. 

Things are looking up in Briarcliff. There is almost no difference in median price, but sales volume is up 55%. This is especially pronounced when one considers that 2010 was a stimulus period. There is no tax credit now.  Was there pent up demand? It would appear so. Whatever the reason, I’ll take it. 

6 homes are currently under contract at a median asking price of $734,500. There are 36 active listings available. That is a healthy inventory, and we’ll see if the second quarter continues the positive trend. 

If you’d like to search for a home in Briarcliff Manor, get yourself a free Listingbook account and search the MLS like an agent. 

Yes, our firetrucks are white!

Previous posts on Briarcliff Manor are here. 

This is the market report for single family homes sold in the Ossining school district for the first quarter of 2011. All information is sourced fom the Empire Access Multiple Listing Service. 

In the first quarter of 2011, there were 28 closings with a median sale price of $369,500. 

In the first quarter of 2010, there were 44 closings with a median sale price of $442,000. 

These are significant differences. I stopped doing monthly market reports because 30 day spans in these small communities had results all over the place. Quarterly reports had more statistical significance. Therefore, the decline in the number of closings and the lower price is not an anomoly. 

23 homes are currently under contract at a median asking price of $449,500. This bodes better in terms of prices, but with 135 listings active and available there is still a huge imbalance in  the favor of buyers. 

It remains to be seen if we are indeed in the midst of a double dip. 

One thing is for certain: Now is a good time for buyers. If you’d like to search for a well priced home in Ossining, get yourself a free Listingbook account and search the MLS like an agent. 

Previous postings on Ossining are here. 

The Sing Sing Gated Community… Our Residents Just Can’t Leave! 

If you’re like me and you love waterfront property, privacy, terrific security and and homeowners association that doesn’t admit just anybody, the Sing Sing Gated Community might just be for you. 

Nestled on the banks of the scenic Hudson River in downtown Ossining, New York-my hometown- the Sing Sing gated community occupies 130 acres of prime riverfront real estate just a stone’s throw from the Metro-North train station. A mere 30 miles from Grand Central, Sing Sing is “up the river” as they say from Gotham, a short ride on the Metro North Hudson line. Of course, it takes more than a train ride to get in.  

Sing Sing is one of the oldest gated communities in New York (and the USA) and was actually built by the original residents! The Homeowner association president is actually known as the “warden” which gives the HOA a quaint charm. Among the amenities, the “longest mile” was originated here and is a popular feature in similar gated communites in Texas. 

While not a co op, residency at the Sing Sing Gated community does require board approval. There is also a minimum down payment rule, which actually tends to vary with the credentials of the applicant. Some characterize the down payment as an arm and a leg, others dismiss it as highway robbery. Despite the unique standards, there are seldom any vacancies. 

Actually, when I was a kid I remember the lights flickering in our neighborhood briefly and then there would be a vacancy the next morning, but that was a long time ago and the details are sketchy. Unlike a co op where residents get a proprietary lease and condos, where you get a deed, residents of sing sing are issued a “sentence” which I am sure dates back to New York’s old dutch roots. 

Security is what any gated community offers, and the Sing Sing Gated Community really excels in this area. They pride themselves on having 24 hour doormen- 1700 of them actually- friendly security, numerous towers with additional concierge staff to help residents find things like lost contact lenses, chipped teeth and the like, and they even have a physician and clinic right on the premises! Not only that, the Sing Sing Gated Community is an “all inclusive” place, with 3 meals a day served 365 days a year. They also have a library, a ball field, and “old school” physical fitness offerings, such as group calisthenics, “balls and chains” and even throwback marble and mallets! 

The concierge staff, especially the ones in the towers, are very protective of their residents’ privacy. As a matter of fact, when I took some of these pictures, one of them yelled at me and threatened to stuff my camera somewhere painful, and all I could think of was what a swell guy he was for protecting his people’s privacy like that. I’ll bet the residents really love that guy. 

Like many exclusive neighborhoods, the Sing Sing Gated Community has had many famous residents: David “son of Sam” Berkowitz, Julius and Ethel Rosenberg, and Lucky Luciano. The community is very selective about who gets residency here, and none of the openings are on the MLS. So, if you’d like more information about how to become a resident at Sing Sing, send me an email or call your local parole officer. 

Next week: 

Want an island getaway? Why not Rikers? 

Related posts:

“The Sing Sing Triathalon: Dig, run, swim.”

Happy April 1st!

I am quoted in this article released by the AP today on the state of the housing market. The thrust of the piece is that we aren’t out of the woods yet with prices. Distress sales are supressing values, inventory is giving buyers more choices-and moxie- and sellers are left to absorb the crisis of confidence. 

The survey of views from around the country seems to paint a rather consistent picture that what I see is a view shored by observers in other parts of the nation. Sellers are often having to reduce their asking price to get views, field low offers, and make accomadations to make deals work. 

The last quote of the article is from one of my clients, who made good copy. You should click and read his remark. Anyone who knows me will laugh at the words they read, and will likely agree that we often list people with similar personalities to our own. When a reporter ends the piece with your quote, that is high praise. My guy nails it. (I did not represent him years ago on his purchase, by the way). 

Nestled on a quiet street corner of the Campwoods neighborhood in Ossining is an old school, kid friendly cafe with an old fashioned counter, and wallet friendly prices. I just spent of of the nicer afternoons with Catherine, and the highlight was our time at the Wobble Cafe.

Catherine had a strawberry smoothie and PB and J and Dad enjoyed his chocolate shake & BLT. I loved the atmosphere- the old fashioned cash register, the counter with a jar of rock candy, and the play area in back with the toys and couch. These places are rare. 

The menu is more than peanut butter and jelly- they serve breakfast, lunch and dinner, with an enticing, yummy bistro styled selection and according to their website the chef studied under Emeril! Not bad! 

Wobble Cafe is located at 21 Campwoods Road in Ossining, NY. You can reach them at 914-762-3459. 

Ossining is my home town and a beautiful community. To find a home in Ossining or the surrounding area, get yourself a free Listingbook account and sreach the MLS like an agent! 

I got a phone call from a fellow independent broker-owner yesterday asking how one would transition into being a listing agent when they were not focused on that part of the business before. Good question, and it is one that has been asked before by Brian Rugg when he relocated to a new state. 

I have “started from scratch” twice. I was first licensed in Rochester, NY where I was new in town and had no sphere of influence. Years later, after I met my wife, I relocated back home to Westchester, where I had not lived since high school. In both cases, I started with zero listings and no sales. 

Here is what I would do if starting from scratch in a new area:

1. Expired listings. I prospected anyone in my entire county who came off the market unsold. Back in the day I would drop off brochures, knock on doors and call on the phone. Today I am more direct mailer oriented, with a piece that drives traffic to a web page specifically for people who expired unsold. 
2. For Sale by Owner. I view FSBOs as open listings who want to sell and haven’t chosen an agent yet. Some are hardcore anti-agent, but most in my area will cooperate if you have a buyer or are not hitting them over the head about how dumb it is to go FSBO. Even if you don’t have a client in mind, just get a look at the house for potential buyers. I have gotten many a call back from people who appreciated that I wasn’t a hard sell. 
3. Distress/Short Sale. This is especially for people who know their way around short sales and distressed properties. In my state defaults are public record. Most of them get contacted by out of state investors who harvest county clerks nationwide. They are more likely to work with someone who is licensed, local and whose hand they can shake. If you are unfamiliar with this niche, consider working for a broker who can help you. 
4. BLOG. Write hyper local on subdivisions, restaurants, and community events. POST PHOTOS with some brief commentary on local beauty. You don’t need to be Hemingway or Faulkner. And at the end of the post, put a link to your IDX so that the post has a real-estate related call to action and that people know you sell real estate. Blogs are also an online resume and pre-listing package for anyone who googles you. 

This past Thursday Luke’s Cub Scout den had a visit to Cortlandt Town Court to get their badge for civics. I was eager to go, because I actually know the judge. I sold his aunt’s house a few years ago!

One thing that struck me about court was the huge number of drunk driving cases we saw. In the 90 minutes we saw people appearing before the judge, at least half a dozen cases of drunk driving or driving under the influence were there. One was even in custody, because the last time they appeared in court they were arrested AGAIN that very day for DWI! You can’t write fiction like that! 

Clearly, DWI is still a terrible problem, and I am going to be a wreck when my kids drive. As my mom used to say, I am not only worried about them. It is those other cars I don’t know about. 

After the court took a break, the den had a chance to speak with the judge, and they had a good question and answer session with Justice Daniel McCarthy. He was terrific with the kids and answered all of their crazy questions. I think, for the record, most kids watch too much TV. 

We also got to spend some time with a state police officer who was there to testify for a number of the cases, and the officer showed the den around the facility, let them see the inside of the patrol car, and then answered their questions. He gave them a terrific talk about guns and their dangers, and I might just post that video up when I get 30 seconds. 

This is something the kids will always remember, and understanding our system of justice, and the good folks who make it work on a municipal level-even the lawyers- was very gratifying to me. 

We are less than a week into “Spring” but the Spring Market has already begun in Westchester. Things are getting busy, as the cyclical nature of our industry turns to the most active period between now and July 4th. If this is the year you are looking to buy that first home, or even if you are looking to sell and perhaps “move up” you should assemble your dream team of professionals to make sure you have all the resources to make the move a happy one. 

Buying or selling a home is typically the largest business transaction of a person’s life. Given the enormous values of property in Wwestrchester and the surrounding areas, there is little room for error. Mistakes can be very expensive. Many of the short sales and pre-foreclosures I have sold in the last 2-3 years had their genesis in early mistakes. Choose your professionals wisely. 

1. Your Agent. Ideally, a full time agent with a verifiable track record, references and a plan of action that makes sense to you is where to start. Interview at least 3 agents. Common mistakes to avoid are not verifying the agent’s claims, credentials, or experience. 
2. Mortgage professional. If you are going to buy, the first thing to do is get pre approved. It takes 15 minutes on the phone to start, costs nothing, and will let you know exactly what you can afford. Don’t choose an out of town lender or one that sells their wares solely on rate alone. 
3. Attorney. We are an attorney state, and in Metropolitan New York attorneys also prepare contracts and run title. They are the broker’s partner in negotiations and troubleshooting, and they also deal closely with your loan officer. Given that the other side will have an attorney, you want a lawyer that is local, responsive,a dn specializes in real estate. Choosing your union attorney or a friend to same a small fee is flirting with disaster. We recently had a buyer client use an attorney who cost them $15,000 when he did not attend to an issue clearly.
4. Home inspector. If you are buying a house, get it inspected. Period. You want, ideally, an ASHI member, and one who is thorough, provides photos in their reports, and not an alarmist. It should cost $500 or so for a typical starter home. It is worth 10 times that amount.   

A Shameless, Brazen Self Pimping Piece Follows. All sold data is taken from the Empire Access MLS: 

Much like the rest of the country, there is still a significant malaise over the Westchester County real estate market. From January 1, 2010 until March 26, 2010 there were 708 single family homes sold in Westchester County at a median sale price of $600,000. In that same period of 2011, only 662 single family homes closed, and they had a median price of $560,000. 

Prices are down 7% in Westchester and transaction totals are down 6% overall. Not good. 

J. Philip Real Estate, however, is not having the same downward trend in the least. As I do every quarter, I have run the numbers, and they are showing we are bucking the trend enormously.

In the first 116 days of 2010, our company had only 5 closings with a volume of $1.6 million. In that same period of 2011, we have closed 15 transactions with a volume of $6.2 million. Sales volume is up 300% and dollar volume is up 400%. 

Looking at homes under contract, we are poised to have an even more active 2nd quarter. As I type this, before April 1 is even here, we have contracts on 8 properties at a dollar amount of almost $3 million. Our team is out there making things happen. It’s not just hard work- I expect that my colleagues at other firms are also working very, very hard.

Our marketing machine is getting our listings out front.
Our short sales are getting approved and closed successfully.
We are converting offers to contracts-no easy feat in this climate.
Our social media efforts are bearing fruit.  
Our clients are taking our advice to get the desired outcome. This cannot be stressed enough. Our sellers are pricing to sell, and our buyers are out there to buy.  

We are getting it done all over Westchester and Putnam counties: Pelham, Chappaqua, Scarsdale, White Plains, Yorktown, Tuckahoe, Peekskill, Ossining, Hartsdale, Ardsley. You name it, we are getting the deals done.  I couldn’t be more proud of our team, and I couldn’t be more pleased that our plan of attack is working. 

Recent posts:
Short Sale Seller: Everyone is Getting Paid But Me.
Why I Will Happily Shell Out the 40 Bucks